Analyst Views | Have you changed your recommendation for Redrow?

CHRIS MILLINGTON NUMIS“Redrow is seeing benefits of its London developments starting to feed through, in addition to the general improvement in trading which is a common feature of trading statements from all housebuilders. We move from ‘reduce’ to ‘hold’ on this basis, but continue to favour others in the sector ...on growth grounds.

CHARLES HALL PEEL HUNT“The group has pointed to results being above expectations for the year just ended. Land investment has continued and pushed up debt, but this is also lower than previously guided. Consensus forecasts will be moving up around 10-15 per cent for this year and we place our recommendation under review.

MARK HUGHES PANMURE GORDON“The business reported significant progress during the trading period. Revenue growth was strong and margins progressed. We have upgraded our forecasts and target price. Whilst we have “sell” recommendations on a number of housebuilders at present, we have a “hold” on Redrow.